Topic: Why bitcoin requires approval from countries ? - page 5. (Read 1817 times)
bitcoin does not require approval to use it. bitcoin is a digital asset as long as you have an internet connection anytime you can use bitcoin, german may do that so bitcoin becomes legal and not used for crime
BitCoin and all other cryptos. The crypto market need to be regulated for the cryptos to be a success. However, there is only one compliant coin and that is AML BitCoin. This coin will be the number one crypto in no time.
Usually no one attaches any importance to the approval of the authorities, institutions, etc.
This is important at least to ensure that you are not fined, but worse, not arrested for using or storing cryptocurrency. This is also necessary for you to freely conduct transactions, make purchases and cryptocurrency. And also in case of burglary or theft-could apply to law enforcement agencies.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
It just so happened that the state decides for all people. To be honest, I do not understand what will change when bitcoin is approved, since if it is banned, then anyone can use it and no one will know about it)
It is mandatory for countries that need approval in every country in the world, if they say they have approved bitcoin, it just means that the particular country has accepted the bitcoin and acknowledged it. as a legitimate cryptocurrency.
Bitcoin requires approval because the state exists before Bitcoin is created and Bitcoin is the only currency in the current era.
it is true and I agree with you. Bitcoin should need state approval if it wants to increase its popularity. Because new developing countries are receiving bitcoin or using bitcoin. And the average Asian country that has received bitcoin.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Approvement is a relative term, it can be approved in different forms and for different uses in different countries.
In general it requires approval in such sense that there is needed to have regulations regarding taxations and this only works when you use it to buy goods and pay for services when your BTC /ALTS are changed to FIAT otherwise is hard to use it.
It is not that approval is mandatory. However, some countries have regulations that in order to buy things you must pay with that and that currency. In that case if a country regulates use of bitcoin as legal, it helps, because people do not have to think if what they do paying in bitcoin is legal or not, they have it black-and-white
Bitcoin is a currency that can not be controlled so bitcoin must require permission from the government to be used by its citizens, but I am sure bitcoin will be used as national currency in the future later and maybe bitcoin will replace the currency we now use
Because by agreement it can make people more trustworthy in putting their assets in bitcoin and it can make or have a good impact on bitcoin prices and also smoothness in trading or in transactions in the purchase of goods and services.
If bitcoin is legit in your country many people's are interested to join in investing in bitcoin cause they have trust to putting there money in bitcoin for investment. They know investing in bitcoin they gain good profit, and they can easily to transact like trading or purchasing of goods and services.
Actually,bitcoin have to restrictions to be used in any country.Many people are using bitcoin in their country where bitcoin is banned but this is illegitimate.But in the countries where bitcoin is permitted,here using bitcoin is legit and users can buy and sell their bitcoin freely with flat currency.
As everyone said bitcoin doesn't require approval from any country to be used by its people. Citizens of any country can buy and sell bitcoins as long as they have internet. But it could be called as illegal activity if your country has banned bitcoin.
Of course to legally used it for financial transactions or any payment method in that country it approves the use of Bitcoin. I was hoping that Bitcoin will continuously grow and spread thoughout around the globe. In more years to pass and surely more countries will engage to the use of Bitcoin.
Bitcoin is a financial instrument, whether we like it or not. And like all financial instruments must be approved by the government of each country.
At this moment it's not approved but we can still buy stuff with it. It can help but it's not necessarily to be approved.
After getting approval from a country, of course, people can freely use bitcoin locally and exchange it with fiat without worrying that you are doing illegal activities. Bitcoin actually does not require approval to be used anywhere. You can use it as long as you have an internet connection and device.
Yeah right, bitcoin does not need approval, only those countries that want to regulate it needs approval to legally use bitcoin and maybe adding tax if possible so that the governments can also get good profit from regulating it
After getting approval from a country, of course, people can freely use bitcoin locally and exchange it with fiat without worrying that you are doing illegal activities. Bitcoin actually does not require approval to be used anywhere. You can use it as long as you have an internet connection and device.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Government approval is not really required. But the approval signify a lot of things that will prove to be beneficial to the growth of Bitcoin and to the assurance of the users that the mode of payment they are using is deemed legal in the country where they are. There is a big difference between using something that is allowed simply because there is no particular law prohibiting it and using something that is officially recognized or acknowledged by the state.
It is true that bitcoin is in dire need
approval and it is necessary because in order to increase public confidence in bitcoin, and it is great for increasing the value or bitcoin price itself.
Bitcoin needs approval from countries, cause if one country gives approval to bitcoin many bitcoin users are believed that bitcoin is not scam cause it is legal and there investment are safe and I know more people are interested to join in bitcoin cause they know they earn more income. approval and it is necessary because in order to increase public confidence in bitcoin, and it is great for increasing the value or bitcoin price itself.
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